| Property and Equipment, net |
Note 4 - Property and Equipment, net
Property and equipment, net, consists of the following:
| Schedule of property and equipment |
|
|
|
|
|
|
|
|
| |
|
As of
March 31, |
|
| |
|
2026 |
|
|
2025 |
|
| Software and computer equipment[1][2] |
|
$ |
4,577 |
|
|
$ |
3,972 |
|
| Leasehold improvements[1] |
|
|
891 |
|
|
|
944 |
|
| Office equipment[1] |
|
|
407 |
|
|
|
432 |
|
| Internal-use software under development[2] |
|
|
- |
|
|
|
- |
|
| Furniture and fixtures[1] |
|
|
166 |
|
|
|
165 |
|
| Vehicles |
|
|
293 |
|
|
|
324 |
|
| Property and equipment, gross |
|
$ |
6,334 |
|
|
$ |
5,837 |
|
| Accumulated depreciation and amortization[1] |
|
|
(4,584 |
) |
|
|
(4,266 |
) |
| Property and equipment, net |
|
$ |
1,750 |
|
|
$ |
1,571 |
|
|
[1] |
Property and equipment held under finance lease arrangements amounted to $134 and $247 as of March 31, 2026 and 2025, respectively. Accumulated depreciation for property and equipment held under finance lease arrangements was $1,656 and $1,632 as of March 31, 2026 and March 31, 2025, respectively. Depreciation expense in respect to these assets was $192 and $303 for the years ended March 31, 2026 and 2025, respectively. |
|
[2] |
Due to decline in customer marketability and future economic benefits of
Software and computer equipment and Internal-use software under development, the Company assessed the recoverability of the asset
group during the year ended March 31, 2025. Hence, the Company fully impaired the related asset group in the year ended
March 31, 2025. Impairment charge of Nil 0 and $1,693
has been included in Selling, General and Administrative Expenses for the year ended March 31, 2026 and March 31, 2025
respectively. |
During the year ended March 31, 2026 and 2025, the Company acquired Property and equipment of $1,113 and $1,484 respectively.
During the year ended March 31, 2026 and 2025, the Company sold property and equipment for the sale proceeds of $87 and $217, respectively. As a result of the sale, the Company recorded a (gain)/ loss of $(18) and $90 in the year ended March 31, 2026 and 2025, respectively.
For the year ended March 31, 2026, and 2025 depreciation and amortization expense was $837 and $1,384, respectively.
|